The Athletic first reported the news.
Holt, a versatile, four-position player, spent the past seven seasons with the Boston Red Sox, becoming a fan favorite with his rambunctious style and flair for the dramatic.
A left-hander, Holt is a career .271 hitter, with 206 RBIs and 23 home runs. He's coming off a season in which he hit .297 with a .771 OPS in 87 games after missing the first two months with a scratched cornea and shoulder impingement.
Primarily an infielder, Holt, who made $3.58 million last season, played every position except pitcher and catcher for the Red Sox.
Holt, 31, was never an everyday player and missed significant time with injuries, including a concussion in 2016 that had lingering effects in 2017.
Holt twice hit for the cycle with the Red Sox, including a memorable game against the New York Yankees in the 2018 ALDS, when he became the first player to accomplish the feat in a postseason game.